Guernsey: Carey Olsen Acts In £4.5m Jersey Commercial Property Acquisition
Last Updated: 23 February 2015

Carey Olsen has advised Polygon Properties Limited on its £4.5 million acquisition of JP Morgan House, Forum 4, Grenville Street - a strategic acquisition for the company's Jersey property portfolio.

Polygon Properties Limited is part of Polygon Group which invests in European, UK and Channel Island property and businesses.

The property is a prominent Grade A office building in central St Helier originally built in the mid 1980's and fully refurbished in 2012. The building's tenants include J.P. Morgan, HLB Jackson Fox and Perdurance Asset Management.

The purchase follows Polygon's acquisition in 2013 of neighbouring Forum 3 (F3) which was the group's first Jersey commercial property investment and is now the centre for Digital Jersey and technology-themed serviced offices.

Carey Olsen's property team, led by partner and head of property Chris Philpott, advised on all aspects of the purchase.

The firm's involvement in this transaction follows its recent role in advising Hand Picked Hotels on the acquisition of Jersey's landmark five-star hotel, Grand Jersey Hotel & Spa, and in acting on the sale of Jacksons CI group at the end of 2014.

Mr Philpott said: "Polygon 's latest purchase, hot on the heels of its recent acquisition of the neighbouring F3, is testament to the positive investment climate we are seeing in Jersey and the continued appeal of Jersey commercial property to investors."

Polygon's Alex Belcher said: "We are very excited about our recent purchase. It will allow us to accelerate the tech sector in Jersey and revitalise the Grenville Street area of town."

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